2015 GS 350 F Sport lease
12-30-14, 09:04 PM
#122
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In theory, they should drop you down to 12k miles for $465 a month, but the residual will go up a little..
12-30-14, 09:53 PM
#123
You get what I was saying. That's good!
My thought is to essentially lease for 36 months, then buy the vehicle for 60 months, effectively making it an 8 year financing. Yes, I will keep the car and I understand that may be a little optimistic.
The only concern I have, is what is the Total Cost of Ownership for these two scenarios:
1. 3 year Lease + 5 Year Finance
2. 5 year Finance
The sales tax will amount to the same, since the purchase price will be deferred eventually in scenario 1. Question is, what does a .00090 money factor translate to in a "finance charge"? Is that equal to 0.09% financing? If so, that's killer.
Or, if in scenario 2, the APR is .09% for the 5 years, whereas in scenario 1, I get .09% for the first three years, then it goes to 4% when I have to buy it as a "used car", then the deal sours a little.
At the end of the day, I'm not really worried about $500. It's a $50k car. If you are worried about $500 you should be buying a camry.
--
One guy already quoted me $516 on $0 down for 36 months on a 2015 btw..
My thought is to essentially lease for 36 months, then buy the vehicle for 60 months, effectively making it an 8 year financing. Yes, I will keep the car and I understand that may be a little optimistic.
The only concern I have, is what is the Total Cost of Ownership for these two scenarios:
1. 3 year Lease + 5 Year Finance
2. 5 year Finance
The sales tax will amount to the same, since the purchase price will be deferred eventually in scenario 1. Question is, what does a .00090 money factor translate to in a "finance charge"? Is that equal to 0.09% financing? If so, that's killer.
Or, if in scenario 2, the APR is .09% for the 5 years, whereas in scenario 1, I get .09% for the first three years, then it goes to 4% when I have to buy it as a "used car", then the deal sours a little.
At the end of the day, I'm not really worried about $500. It's a $50k car. If you are worried about $500 you should be buying a camry.
--
One guy already quoted me $516 on $0 down for 36 months on a 2015 btw..
When I did the calculations using my selling price and the 1.9% which is what Lexus is offering for a 60 month purchase on a new GS, vs leasing at .00090 and then paying 3% interest on the residual which is what you can get on a used car today I found I would save just a little under 3 grand overall if I were to simply finance vs lease.. The big difference though is the monthly payments and/or huge down payments to try and keep it in my monthly budget. And really, 2-3% for 8 years is just awesome!
If you plan to keep the car a long time, and want some dough in your account in the meantime then the lease to purchase may make sense. If you can afford the huge down and/or monthly payments now then perhaps the finance may make sense to save a few grand. If you pay cash then you can avoid interest altogether and save the most, but again that's an even more painful blow to a bank account!
I decided on the lease ( to likely purchase) because it didnt tie up too many funds in the short term and monthly. Even though it will cost me a bit more in the long run there is something to be said about savings now vs savings over time of course. I was originally looking at used 2013's that are still going for well over $40-45k, so a new 2015 for $51k, and a selling price of $36k down the road didnt sound too bad!
Youre quote does not mention the selling price or miles, hard to tell if thats a great deal or not.. always work with the selling price with the dealers to know your getting the best deal. If the dealers get you focused on just the payment, they will probably win.
Youre right though, if you really want to save some serious cash, the GS is not going to beat the Camry!! These are expensive machines known as luxury cars and that's what they are.. either scenario you are paying over $60k for one of these over the course of time.
Let us know what you do and best of luck!
12-31-14, 10:49 AM
#124
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I think that sounds pretty good based on my $516 with all the same stats for 12k miles. You are getting 3k miles more. At $0.25 / mile over, that's $750 more. You're paying $12 more x 12 months, that's $144 / yr. You're coming out ahead of me.
In theory, they should drop you down to 12k miles for $465 a month, but the residual will go up a little..
In theory, they should drop you down to 12k miles for $465 a month, but the residual will go up a little..
01-01-15, 06:44 AM
#126
Not bad... in the past I would have never considered a lease, but seeing as I like to get a new car every 3 years I am really looking at it now. My issue has always been miles driven. I average around 20,000 miles a year as my work commute is long. I need to figure out the additional cost of purchasing those miles...
01-02-15, 12:26 AM
#127
Driver School Candidate
You get what I was saying. That's good!
My thought is to essentially lease for 36 months, then buy the vehicle for 60 months, effectively making it an 8 year financing. Yes, I will keep the car and I understand that may be a little optimistic.
The only concern I have, is what is the Total Cost of Ownership for these two scenarios:
1. 3 year Lease + 5 Year Finance
2. 5 year Finance
The sales tax will amount to the same, since the purchase price will be deferred eventually in scenario 1. Question is, what does a .00090 money factor translate to in a "finance charge"? Is that equal to 0.09% financing? If so, that's killer.
Or, if in scenario 2, the APR is .09% for the 5 years, whereas in scenario 1, I get .09% for the first three years, then it goes to 4% when I have to buy it as a "used car", then the deal sours a little.
At the end of the day, I'm not really worried about $500. It's a $50k car. If you are worried about $500 you should be buying a camry.
--
One guy already quoted me $516 on $0 down for 36 months on a 2015 btw..
My thought is to essentially lease for 36 months, then buy the vehicle for 60 months, effectively making it an 8 year financing. Yes, I will keep the car and I understand that may be a little optimistic.
The only concern I have, is what is the Total Cost of Ownership for these two scenarios:
1. 3 year Lease + 5 Year Finance
2. 5 year Finance
The sales tax will amount to the same, since the purchase price will be deferred eventually in scenario 1. Question is, what does a .00090 money factor translate to in a "finance charge"? Is that equal to 0.09% financing? If so, that's killer.
Or, if in scenario 2, the APR is .09% for the 5 years, whereas in scenario 1, I get .09% for the first three years, then it goes to 4% when I have to buy it as a "used car", then the deal sours a little.
At the end of the day, I'm not really worried about $500. It's a $50k car. If you are worried about $500 you should be buying a camry.
--
One guy already quoted me $516 on $0 down for 36 months on a 2015 btw..
01-02-15, 02:34 PM
#128
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I need to figure out my Prius to trade in, without taking a bath on it. Residual is $15.8k or so, but I'm way over the miles and kbb says it's worth 14,500 via private party sale. If they gave me that, I pay the difference, and got me in a gs350 F sport for 3 years for under $500/mo I would sign tomorrow.
01-03-15, 12:47 PM
#129
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Looking to lease a 2015 GS 350 AWD in the Northeast, 36mo/10K miles. Anyone with experiences shopping/leasing this in Northeast? Have one offer for $50600 on MSRP of $54800 for an AWD. Not sure if I can do better in NE region (VA to MA)
Northeast seems to get the worst deals for this, no lease cash incentive as in some regions, and the MF seems to be higher. All dealers are reporting 0.0012 Tier 1 from VA to MA, compared to the 0.0009 in other regions. That's a $30/mo difference right there!
Also, has anyone done MSD (Multiple Security Deposits)? If so, what is the MF reduction per deposit, is it 0.000088? This might differ regionally as well, so Northeast experiences would be most helpful. I know there is a max of 9 deposits.
Crossing my fingers that the new lease factors won't get worse starting Tuesday!, as I won't have time to secure a deal before then.
Thanks!
Northeast seems to get the worst deals for this, no lease cash incentive as in some regions, and the MF seems to be higher. All dealers are reporting 0.0012 Tier 1 from VA to MA, compared to the 0.0009 in other regions. That's a $30/mo difference right there!
Also, has anyone done MSD (Multiple Security Deposits)? If so, what is the MF reduction per deposit, is it 0.000088? This might differ regionally as well, so Northeast experiences would be most helpful. I know there is a max of 9 deposits.
Crossing my fingers that the new lease factors won't get worse starting Tuesday!, as I won't have time to secure a deal before then.
Thanks!
01-03-15, 03:32 PM
#130
Looking to lease a 2015 GS 350 AWD in the Northeast, 36mo/10K miles. Anyone with experiences shopping/leasing this in Northeast? Have one offer for $50600 on MSRP of $54800 for an AWD. Not sure if I can do better in NE region (VA to MA)
Northeast seems to get the worst deals for this, no lease cash incentive as in some regions, and the MF seems to be higher. All dealers are reporting 0.0012 Tier 1 from VA to MA, compared to the 0.0009 in other regions. That's a $30/mo difference right there!
Also, has anyone done MSD (Multiple Security Deposits)? If so, what is the MF reduction per deposit, is it 0.000088? This might differ regionally as well, so Northeast experiences would be most helpful. I know there is a max of 9 deposits.
Crossing my fingers that the new lease factors won't get worse starting Tuesday!, as I won't have time to secure a deal before then.
Thanks!
Northeast seems to get the worst deals for this, no lease cash incentive as in some regions, and the MF seems to be higher. All dealers are reporting 0.0012 Tier 1 from VA to MA, compared to the 0.0009 in other regions. That's a $30/mo difference right there!
Also, has anyone done MSD (Multiple Security Deposits)? If so, what is the MF reduction per deposit, is it 0.000088? This might differ regionally as well, so Northeast experiences would be most helpful. I know there is a max of 9 deposits.
Crossing my fingers that the new lease factors won't get worse starting Tuesday!, as I won't have time to secure a deal before then.
Thanks!
01-05-15, 10:42 AM
#131
Not bad... in the past I would have never considered a lease, but seeing as I like to get a new car every 3 years I am really looking at it now. My issue has always been miles driven. I average around 20,000 miles a year as my work commute is long. I need to figure out the additional cost of purchasing those miles...
However, you only pay the mileage penalty when you drop it off and walk away at the end of your lease term. You can trade it in prior to get a new machine and not pay the fee, or even sell it on your own to try to maximize your value and avoid the fee.
Of course the more miles you drive always affects the resale/trade in value, this is true whether you lease or purchase though.
01-05-15, 10:45 AM
#132
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The cost is 25 cents per additional mile currently on the 2015 GS deal I got.
However, you only pay the mileage penalty when you drop it off and walk away at the end of your lease term. You can trade it in prior to get a new machine and not pay the fee, or even sell it on your own to try to maximize your value and avoid the fee.
Of course the more miles you drive always affects the resale/trade in value, this is true whether you lease or purchase though.
However, you only pay the mileage penalty when you drop it off and walk away at the end of your lease term. You can trade it in prior to get a new machine and not pay the fee, or even sell it on your own to try to maximize your value and avoid the fee.
Of course the more miles you drive always affects the resale/trade in value, this is true whether you lease or purchase though.
Any idea if a swap/upgrade to new will work to trade in a Toyota for a Lexus?
01-05-15, 10:57 AM
#133
The cost is 25 cents per additional mile currently on the 2015 GS deal I got.
However, you only pay the mileage penalty when you drop it off and walk away at the end of your lease term. You can trade it in prior to get a new machine and not pay the fee, or even sell it on your own to try to maximize your value and avoid the fee.
Of course the more miles you drive always affects the resale/trade in value, this is true whether you lease or purchase though.
However, you only pay the mileage penalty when you drop it off and walk away at the end of your lease term. You can trade it in prior to get a new machine and not pay the fee, or even sell it on your own to try to maximize your value and avoid the fee.
Of course the more miles you drive always affects the resale/trade in value, this is true whether you lease or purchase though.
01-05-15, 11:05 AM
#134
I want to trade in my Prius which is over by about 30k miles and up in March. I pay $200/mo and just want to walk away from it. The residual is still within fair market value, based on the listings I am seeing on Cars.com, etc.
Any idea if a swap/upgrade to new will work to trade in a Toyota for a Lexus?
Any idea if a swap/upgrade to new will work to trade in a Toyota for a Lexus?
If you go to sell it yourself to get maximum bucks back out of it, then there's the issue of what to drive after you sell it. If you have access to another car to drive in the meantime though and are willing to spend some time advertising, negotiating, and selling your car on our own you will likely save some cash vs the dealer trade in. There advantages and disadvantages to each approach, and you need to decide what is best for your situation.
You can have the dealer quote you a trade in value, then see how that compares to market value to help decide. You can normally sell a car fairly quickly for a grand or two more than a dealer would pay, as they will likely quote you well below low blue book.
01-05-15, 11:18 AM
#135
Yea, I have to decide if its worth it to me to lease or not. I don't mind having car notes as I like to have a new vehicle every 3 years or so but at the same time I need to watch the costs. I'm driving somewhere between 15K and 20K a year now that I am working from home 1 day per week etc.. I think anything over $550 a month on the lease is just too rich for me and I might as well put some money down and finance. I dunno though....
Definitely drive both cars to see what makes sense for your budget and needs!